European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
Oil prices rose Wednesday after Iran suspended cooperation with the U.N. nuclear watchdog, lifting geopolitical tensions in the region. At 07:50 ET (11:50 GMT), Brent oil futures for September rose 1.2% to $67.94 a barrel, and West Texas Intermediate crude futures gained 1.3% to $66.30 a barrel. Iran suspends cooperation with UN Iran put into effect a law on Wednesday that stipulates that any future inspection of its nuclear sites by the International Atomic Energy Agency needs approval by Tehran's Supreme National Security Council. This decision comes amid growing tensions between Tehran...
The AUD/USD pair attracts some sellers on Wednesday and moves away from a fresh year-to-date high, around the 0.6590 area touched the previous day. Spot prices remain depressed near the 0.6565-0.6560 region through the first half of the European session, though the downside potential seems limited. The Australian Dollar (USD) is weighed down by unimpressive domestic data, which reaffirmed bets that the Reserve Bank of Australia (RBA) will cut interest rates again in July. The Australian Bureau of Statistics (ABS) reported that Retail Sales grew 0.2% MoM in May compared to 0% in April,...
The U.S. dollar languished near its lowest since February 2022 against major peers on Wednesday as traders considered the potential impact of President Donald Trump's spending bill, and looming tariff deadlines. Market participants are in a holding pattern until they get clarity on those matters and as they await U.S. jobs data for June, and the dollar inched up slightly but remained near recent lows. The euro was down 0.3% at $1.1774, on Wednesday, but close to its highest since September 2021 hit Tuesday, and the pound was down 0.15% at $1.3722, after hitting a three-and-a-half year top...
The US Dollar is showing a slightly firmer tone on Wednesday with the USD/CHF bouncing up from multi-year lows at 0.7875, but still capped below previous lows at the 0.7960 area. The Greenback drew some support on Tuesday from a strong US JOLTS Job Openings report and a larger-than-expected improvement in manufacturing activity. These figures endorsed Fed Powell's earlier comments at the ECB Forum oc Central Banking in Sintra, Portugal, where the chair of the US central bank confirmed his cautious stance toward interest rate cuts, amid a likely increase on inflation stemming from Trump's...
Silver prices hovered around $36 per ounce on Wednesday, remaining largely unchanged for a third consecutive session and gaining support from a weaker dollar amid growing trade and fiscal uncertainties in the US. Those moves came as Fed Chair Jerome Powell reiterated on Tuesday that the central bank remains patient regarding additional interest rate cuts but did not rule out easing at this month's meeting. He also noted that the Fed would have already cut rates if not for the inflationary effects of President Donald Trump's tariffs. Adding to investor caution, the Senate narrowly approved...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical...